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20130228
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to provide a voice of the world. last week's european council agreed the overall limit on eu spending for the next seven years, starting in 2014. been agreed in the past, spending has gone up, but last week we agreed that spending should come down. by working with like-minded allies, we delivered a real- terms cut in what brussels can spend for the first time in history. as the house knows, the eu budget is negotiated annually, so what we were negotiating -- initially at the council last november and again last week -- was not the individual annual budgets, but rather the overall framework for the next seven years. this includes the overall ceilings on what can be spent -- effectively, the limit on the european union's credit card for the next seven years. during the last negotiation, which covered the period 2007 to 2013, the last government agreed to an 8% increase in the payments ceiling, to 943 billion. put simply, this gave the eu a credit card with a higher limit, and today we are still living with the results of allowing the eu's big spenders to push for more and more spending
a goal for the european union. after years of very little progress, the e appears to -- the eu appears to have an ally in what has. >> president obama announced the start of trade negotiations on a trade deal. brussels said talks could begin before summer. if successful, those negotiations would result in the biggest financial trade deal ever. >> the eu and u.s. already trade some 2 billion euros worth of goods and services every day. about 1/3 of total global commerce. president obama wants to bring that commerce into what would be the world's biggest free trade zone. the european commission says that would have world wide applications. >> which translates into tens of billions of euros every year and tens of thousands of new jobs. this offers us a great perspective at a time when we are gradually making our way to recovery. most important of all, it is a boost to our economies that does not cost 1 cent of taxpayer money. >> both sides stand to benefit. economists to warn that negotiations will be tough. the eu and washington disagree on issues ranging from industrial trade barriers a
Search Results 0 to 2 of about 3 (some duplicates have been removed)